January the 23rd, 2022 - The Croatian-Austrian startup PlanRadar has made quite the impression on investors, and they're now eyeing global expansion.
As Poslovni Dnevnik/Marina Bilus writes, the founder of the Croatian-Austrian startup PlanRadar has stated that it is absolutely imperative for them that companies work globally with their application and that through such a presence, they continue to bring the greatest value to the industry in which they operate. They claim to want to be the trigger for true change by transforming construction sites across the world.
The founder of the Croatian-Austrian startup PlanRadar, Domagoj Dolinsek, summarised their ambitions, revealing for the first time that PlanRadar is embarking on a new round of raising fresh capital to continue on its path of global expansion, this time targeting primarily distant markets such as that of Australia and those of the Middle East.
Just a couple of months or so after revealing that, Dolinsek and his team achieved their goal by securing an impressive 69 million US dollars in Series B investments.
That investment line-up is led by Insight Partners and Quadrille Capital, and the existing investor Cavalary Ventures, as well as Headline, Berliner Volksbank Ventures and aws Gründerfonds, and Proptech1, Russmedia and GR Capital have also invested in this impressive company. The capital entrusted to PlanRadar will also serve to double their team in just one year and to increase the number of employees by as many as 200.
After the news of the exceptional success of this round of funding was officially announced, the Croatian-Austrian startup PlanRadar specified that their global expansion would include the opening of new offices in the USA, Australia, the Gulf Cooperation Council (GCC), Southeast Asia and Latin America.
"We'll encourage investment in the R&D department, create a new technology hub and form a team of product innovation experts to create new technology solutions for the SaaS platform that sets new industry standards," they explained from PlanRadar, adding that in just 18 months, from a previous 30 million US dollar investment, their revenue swelled by a massive 250 percent and their number of beneficiaries doubled.
Their platform, which brings together a wealth of site workflow data and structures it to make it instantly available to any construction project participant through a single mobile app, is used daily by 100,000 professionals in more than 60 countries around the world.
"Our mission is to facilitate construction work and property management and we've proven that there is a huge global appetite for our technology," said Ibrahim Imam, one of the co-founders of PlanRadar, while fellow co-founder Sander van de Rijdt added that the global PropTech is transforming an industry that has historically been reluctant to digitise.
“The PropTech sector is poised for tremendous growth, and the Croatian-Austrian startup PlanRadar is bringing the global construction and real estate industries into the digital future. The sustainable growth that PlanRadar has achieved is proof of their professional work and commitment. We immediately saw their potential, and their team continued to impress us with their commitment to growing customers, revenue and talent,'' said Thomas Krane, the CEO of Insight Partners.
"We're delighted to continue to encourage the rapid growth of PlanRadar and join the group of investors. We're extremely impressed with the technology, the team and the way it is helping to digitise the construction industry and the real estate sector,'' said Brice Delome, a partner at Quadrille Capital.
When Dolinsek revealed how they managed to transform the otherwise traditional construction industry into something more digital, he stated their formula for success - a user friendly application that, he claims, is simple for everyone who uses it, while at its heart has a huge anount of technological "machinery" that unites all complex compounds into a meaningful whole that is easy to manage via an app.
“Construction sites are quite complicated systems, and people associated with them often project this complexity through their way of working. But the trick is that by simply using the technological solution provided by PlanRadar, we eliminate the complexity of their workflow so that they work more simply, become more efficient and thus improve the sustainability and success of their projects,'' explained the head of PlanRadar.
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